§ Mr. Gryllsasked the Secretary of State for Industry if he will make a statement on the future of (a) the Inmos project and (b) the Nexos project; what is his 327W estimate of the amount of public money which will be needed for each; and whether he intends to use his powers under the Industry Act to direct the National Enterprise Board to dispose of these two projects.
§ Mr. Michael MarshallMy right hon. Friend expects to make a statement on Inmos fairly soon but does not envisage a statement on Nexos. The National Enterprise Board's total investment is not expected to exceed £50 million in Inmos and £40 million in Nexos, but both companies are eligible for the regional industrial incentives in appropriate circumstances and might receive public funds in that form. My right hon. Friend has no power under the Industry Acts to direct the board to dispose of any shareholdings: such a power is provided in the Industry Bill now before Parliament.